Azerbaijani Parabank increases capital by 1.7 times
Azerbaijan, Baku, July 25 / Trend /
The State Committee on Securities (SCS) of Azerbaijan has registered the issue prospectus of OJSC Parabank's ordinary nominal non-documentary shares for a total amount of 16 million manats, Baku Stock Exchange (BSE) reported on Tuesday.
Some 80,000 shares at a par value of 200 Azerbaijani manats were issued within the emission.
The underwriter of the issue is OJSC Unicapital.
The authorized capital of the Bank as of July 1, 2013 amounted to 11,570.4 thousand manats, and the total capital amounted to 17,332.42 manats.
At present, some 70 percent of the bank's credit portfolio comes from retail.
The bank has 15 branches in the country.
Parabank was established on December 3, 1991. More than 80 percent of bank's shares are owned by five physical persons, and the rest by 14 minority shareholders.
The official exchange rate on July 25 is 0.7843 AZN / USD.